Riyadh - Mubasher: Shukr Investments, an ADGM-based investment manager, has partnered with Shariyah Review Bureau (SRB) to set up its Sharia Supervisory Board and supervise its global public equity fund activities.
Founded in 2013, Shukr Investments has a presence in Abu Dhabi and the US. Its mission is to achieve minimum annualised returns of 10% for its clients while donating 50% of performance fees earned to charitable causes, according to a press release on Monday.
The Shukr Global Equity Fund's performance over the last three months, year-to-date, 1-year, 3-years and 5-years all rank in the top 1% of all offshore public equity funds as of 30 September 2020, according to data compiled from Bloomberg.
“We are excited to be working with Shariyah Review Bureau (SRB) to supervise our ethical framework, ensuring our process, investments and charity distributions align with Sharia principles,” said Director of Shukr Investments, Omar Bassal.
Shukr Investments is incorporated in the Abu Dhabi Global Market (ADGM) and has received from the Financial Services Regulatory Authority (FSRA) an In Principle Approval (IPA) to become a regulated Islamic Financial Institution.
